Here's one thing President Trump and Elizabeth Warren agree on.
It’s one thing both President Donald Trump and potential Democratic challenger Elizabeth Warren agree on, at least in broad strokes: the U.S. dollar is too strong. But that doesn’t mean a U.S. election year is guaranteed to finally break the dollar’s more-than-a-decade-long uptrend.
And the dollar’s performance in the final days of 2019 were likely giving bears at least some comfort. These include a domestic economy that has outpaced its international peers, who suffered a global economic and trade slowdown on par with slumps in 2012 and 2015-16. That outperformance came as the corporate tax cuts enacted in 2018 insulated the U.S. economy against global woes, allowing it to outpace the rest of the Group of Seven by 1.6 percentage points in 2018 and 1.3 percentage points in 2019, Daco said. The boost will have “fully dissipated” next year, but the U.S.
The Fed’s likely to deliver an additional rate cut in 2020 while the European Central Bank remains on hold, but with short-term rates across most developed economies unlikely to drop much further below their effective lower bound, “the asymmetric policy space will blur potential exchange-rate implications,” the Oxford Economics economist said.
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